AfDB to invest $600m in Africa for alternative energy
Businessam Staff
January 24, 2020
The African Development Bank says it has freed up $600 for investment in renewable energy in Africa. Akinwunmi Adesina, the president, African Development Bank, who disclosed this in his keynote speech at the UK-Africa Investment Summit, said, “Huge opportunities exist for investment in renewable energy, especially for hydropower, wind, solar, thermal and geothermal. “But many […]
Developed economies encouraging fossil fuels development to the detriment of renewable – Oil Change International
Bukola OdufadeAugust 6, 2018
Developed nations have been accused of promoting the development of fossil fuels instead of renewable energy sources. An analysis of a study carried out by Oil Change International, a clean energy advocacy group revealed that 60 percent of the $59.5 billion energy aid for energy projects was spent on fossil fuels, while just 18 percent […]
Nigerian mechanical engineers urged to sharpen skills on renewable technology
Businessam StaffJuly 26, 2018
Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC), has challenged mechanical engineers in the country with interest in renewable energy technology to up their skills and expertise to support current initiative by the corporation to create a non-fossil fuel driven economy. The NNPC GMD stated this in Abuja Wednesday while speaking […]
Despite tariffs, report says US solar power climbs 13% in Q1, 2018
Ayobami AdedinniJune 12, 2018
In spite of the new tariffs on imported solar panels, the U.S. solar power market recorded an annual growth of 13 percent as it added 2.5 gigawatts of solar PV in the first quarter of the year, a U.S. Solar Market Insight Report from GTM Research and the Solar Energy Industries Association (SEIA) said Tuesday. […]
Reinvest oil subsidy in renewable power, create energy bank – Energy economists
Businessam StaffJune 11, 2018
The emerging global energy landscape has implications on emerging energy economies because of changes in technology, economics and public policy. These changes have turned major energy importers to exporters (e.g the US); unconventional energy sources becoming conventional and made renewable energy components of the global energy supply mix, significant. These changes portend great consequences, and […]
IRENA, Innovation Mission sign agreement to push renewable energy use
Bukola OdufadeJune 1, 2018
The International Renewable Energy Agency (IRENA) and Mission Innovation have signed a letter of agreement to boost and accelerate clean energy innovation globally. The agreement was signed between Ibrahim Baylan, minister for policy coordination and energy in Sweden, on behalf of Mission Innovation, and Adnan Z. Amin, director-general of IRENA. The collaboration is aimed at […]
AfDB partners GCF, Africa50 to fund 10-GW Desert to power programme
Businessam StaffMay 30, 2018
The African Development Bank, AfDB, has signed a letter of intent (LoI) with the Green Climate Fund, GCF, and the Africa50 investment fund to collaborate on the Desert to power programme, which aims to develop 10,000 MW of solar energy across the Sahel region. The project intends to provide solar-generated electricity to 250 million people, including […]
Renewables: No threat to oil & gas
Ayobami AdedinniMay 22, 2018
The renewable energy sector has been described as an opportunity rather than a threat to the oil and gas sector. In the past few years, there has been a lively debate about the increasing role of renewables at the expense of fossil fuels, particularly in power generation. Some say that renewables are not an existential […]
Scientists design new solar panels to capture energy from rain
Ayobami AdedinniMay 21, 2018
Scientists have designed new solar panels to capture energy from rain as part of improvements on the current design that captures energy from the sun alone. Two groups of scientists from Soochow University, and Yunnan Normal and Ocean Universities in China have come out with hybrid solar panels or all-weather solar panels to generate electricity […]
Worry over slow progress in renewable energy industry
Businessam StaffMay 7, 2018
Stakeholders in Nation’s renewable energy industry have expressed worry over what they have described as the slow pace of progress in the sector. Renewable energy is energy that is collected from renewable resources, which are naturally replenished on a human timescale, such as sunlight, wind, rain, tides, waves, and geothermal heat. It is one of […]